In a broad sense, creating value includes two elements:
A)Create value for stakeholders, and then translate this value into low price for customers
B)Create strong customer loyalty, and then to progressively increase prices, thereby creating extra value
C)Create value for customers, and then extracting some of that customer value as profit
D)Create value for customers, and extract some of that customer value through strong motivation of employees

Question

Quizplus · Accepted Answer

Creating value for customers is the primary focus of any business. However, a business also needs to extract some of that customer value as profit to sustain itself. This can be done by setting an appropriate price for the value offered to customers. Option A is not always feasible, as it might not be possible to offer low prices while creating value for all stakeholders. Option B is not ethical as it involves exploiting the loyalty of customers. Option D is not directly related to creating value for customers or generating profit.

In a Broad Sense, Creating Value Includes Two Elements